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What is the price elasticity of supply?
Price elasticity of supply:
The price elasticity of supply is a measure of the receptiveness of the quantity of a good supplied to price of which good.
Price elasticity of supply = (% change in quantity supplies)/(% change in price)
What is productivity? Productivity or average product (AP): It is output person which is output divided through number of workers AP= Q/L. There labour Productivity can
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what does international trade fails to its claims ?
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The elasticity of demand in the local hardware industry is -2, while in the video market it is. Which industry has a higher markup over marginal cost (as a percentage of price)?
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